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Emergency Fund
Posted on 1/5/13 at 9:30 am
Posted on 1/5/13 at 9:30 am
I have about $25,000 that I would like to put aside for an Emergency Fund. Some of the money is sitting in a savings account in a local bank the rest will be moved over from another account in the next few days.
The question I have is, what is the money board's take on where to stash this EF? I am thinking short term (3 Month) CD but will look into other ideas that you guys may come up with.
#inbeforehookersandblow
The question I have is, what is the money board's take on where to stash this EF? I am thinking short term (3 Month) CD but will look into other ideas that you guys may come up with.
#inbeforehookersandblow
5
Posted on 1/5/13 at 9:31 am to CaribbeanDemon
Vanguard fund through a Roth IRA.
Posted on 1/5/13 at 9:56 am to CaribbeanDemon
That's a big arse emergency fund but I would put 20k of it in a Roth over the allowed time frame and keep 5 in cash.
Posted on 1/6/13 at 5:50 am to CaribbeanDemon
If this is SHTF money then buy a gunsafe and put your 25k in there.
Posted on 1/7/13 at 7:23 am to CaribbeanDemon
I keep 50k in my kids name in a local bank earning 2% a year. I'd start there.
Posted on 1/7/13 at 9:35 am to CaribbeanDemon
CD's suck, they always suck. They give a crappy return with too many restrictions.
An emergency fund should be relatively liquid and safe, CD's are only safe.
You can still find Money Markets that beat 1%, but an emergency fund isn't an investment, it's insurance.
An emergency fund should be relatively liquid and safe, CD's are only safe.
You can still find Money Markets that beat 1%, but an emergency fund isn't an investment, it's insurance.
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